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Housing Costs Consume More Monthly Income

www.therealdeal.com

It's becoming more costly to maintain a home in New York State, for both renters and homeowners.

That's according to a reportissued by the State Comptroller. 

In Monroe County, 54 percent of renters and 25 percent of homeowners had monthly housing costs that consumed more than 30 percent of their income in 2012.

Andy Burke is president of the Greater Rochester Realtors Association. He says it's become more difficult to qualify for a mortgage, especially first-time buyers . "We've already seen some tightening in the ability to get mortgages as the federal government instituted some new qualifying measures on some traditional mortgages, which requires a lower level of debt to income."

The state report says 9 percent of Monroe County Households had monthly housing costs at or above 50 percent of their income in 2012.

Beth Adams joined WXXI as host of Morning Edition in 2012 after a more than two-decade radio career. She was the longtime host of the WHAM Morning News in Rochester. Her career also took her from radio stations in Elmira, New York, to Miami, Florida.